Diamonds billionaire Lev Leviev has bought 50% of the Grizzly emeralds in Zambia, one of Africa’s biggest emerald mines, “Bloomberg” reports.
Leviev’s Namibian unit managing director Kombadayedu Kapwanga told “Bloomberg” that the new business activity has been renamed Gemcanton Investments Holdings.
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Spokespeople for Leviev’s two companies in Israel, were unavailable for comment when contacted by “Bloomberg.”
Kombadayedu Kapwanga also told Bloomberg the tycoon used his Israel-based LLD Diamonds, to purchase half of Grizzly.
Lev Leviev who was known as the ‘King of Diamonds’, has a net worth of $1.1 billion as of September 2016. His primary interest is in the diamond industry, but also in real estate and chemicals.
Leviev made his fortune undercutting the DeBeers diamond cartel, striking his deals with diamond-producing countries like Angola and native country Russia
Zambia is one of the biggest emerald sources in the world, alongside Colombia and Brazil. Although it has 400 mining licenses to small-scale miners, only three emerald mines in Zambia are in full production, bringing in about $200 million a year.
